This and That - Edmonton's looking great!

Rosy outlook shines on Alberta's economy - "More signs emerged Monday that an economic rebound is starting to take hold in Alberta, as new home construction soared and the hiring outlook improved.

At the same time, rising oil prices continue to boost financial markets, adding more positive momentum to the provincial outlook, analysts said."

"It looks like we've hit the bottom and we're edging back up in Alberta," said Jacques Marcil, economist with Canada West Foundation, a Calgary-based think-tank.

Tripling of housing starts returns builders to pre-recession levels - "There is optimism that the market is showing stability for 2010,"

"Single-family homes are selling well and multi-inventory continues to decline."

"Certainly, our builders are as optimistic as they have ever been since probably early 2007. Let us hope that a jump in interest rates and further constraints in CMHC and other mortgage insurers in eligibility criteria does not dampen demand." Guy St. Germain, Edmonton-region president of the Canadian Homebuilders' Association

Hoteliers, developers support downtown project - "There would have to be a lot of additional economic activity generated to support the hotel," "But anything that can revitalize the downtown is great for the hotel industry in Edmonton. ... Things like a downtown arena are an asset, there's no question about that. Alberta Hotel and Lodging Association CEO and president Dave Kaiser

"If it's done right, it will dramatically change the city," "Everything around it, everything that touches it or is within two blocks of it, suddenly becomes a building site," Downtown Business Association executive director Jim Taylor

This And That

Highway Improvements to Create Jobs in Alberta - "Stimulating our economy and keeping people working during these tough economic times is a top priority for our Government," said Minister Merrifield. "The strong relationship between our two governments enables us to work together to help Alberta communities remain competitive and prosperous, while contributing to the long-term economic growth of our country."

"Our Government is fulfilling the commitments we made in Canada's Economic Action Plan," said Minister Ambrose. "By investing in roads and highways, we will help give our economy the boost it needs, while also creating opportunities to keep Albertans working throughout these difficult times."

Another reason why Alberta is the place to invest for the long term. Systematic building of infrastructure to prepare for the next upswing of the economy.

End is at hand for downturn: Expert- Hype over the economic meltdown has inspired unnecessary panic, as recessions are part of the ebb and flow of a healthy economy, chamber president Martin Salloum said, adding that speculation among members indicates the downturn will reach cessation within 18 months.

“Edmonton’s economy is diverse enough to weather the storm,” he told Metro, adding that proof of the Alberta advantage is omnipresent.

The biggest misconception, Salloum said, is that oil is Edmonton’s economic lifeblood.

“We’re not just a one-trick pony,” he said. “We’re much more diverse than people think.”

Alberta was the first province to experience the economic down-turn and is showing signs of being the first to come out of it. The economy is strong and diverse enough all we have to do is wait for demand to increase and Edmonton will go off.

Home sales reverse course - The number of resale homes sold through MLS in May rose 18.7 per cent over the same month last year, said the Realtors Association of Edmonton on Tuesday.

It's the second straight month of year-over-year increases in Edmonton-region home sales. April's residential sales were up 1.1 per cent over the previous month.

It follows six consecutive months --from October to March--when sales were down between three and 40.5 per cent from the year before.

Association president Charlie Ponde said the two-month turnaround, along with monthly sales increases since January, show the market is recovering, although some of the increase may be seasonal. "Now it has shown that it looks like a trend,"Ponde said.

Down-turn or not people still need a place to live and there are still a lot of jobs to be filled in Edmonton; new employees need a place to live - rent or buy.

Alberta cities score high on economy - Cowtown is Wowtown but Edmonton isn't far behind, says a report released yesterday that gave Calgary a top-of-the-class grade on a global scorecard for overall economic prosperity.

Calgary was the lone metropolis in a survey of international commerce heavyweights to earn an A grade in the Calgary Economic Development-commissioned Conference Board of Canada report.

Edmonton was third. Dallas was sandwiched at second between Alberta's two major centres in the 23-city ranking.

Such results aren't surprising for Calgary, which accounts for 5% of national gross domestic product, despite a local economy cooled by the recession, said Cowtown Mayor Dave Bronconnier.
Edmonton has the same potential as Calgary but with lower house prices and higher affordability. We know where Calgary is economically with Edmonton following you are going to get great returns on housing investments. Buying now with the incredible rates and soft prices is like being at the sale of the decade.

This And That

Local bankers see thaw in economy Alberta the place to be to 'ride out' recession - "I'd rather be here in Alberta than anywhere else in the world right now to ride out this recession," said Garth Warner, chief executive of Servus Credit Union

Alberta's jobless rate highest since 2002 - "Alberta gained 5,700 jobs in April but its unemployment rate still inched up to six per cent, according to figures released Friday by Statistics Canada. It’s the highest provincial rate since 2002.

The increase in unemployment from 5.8 per cent in March despite job growth was attributed to the labour force growing by 9,400 people."

He said much of Alberta's problem is that its residents see the bad news and cut back on spending.

"The key message is that we are in a great place, the economy is strong and the banking industry in Alberta is supporting the economy here."

Canada Real Estate Forecast - "The Canadian Real Estate Association (CREA) recently released its predictions for 2009-2010, and it expects Multiple Listing Service (MLS) sales to decline in 2009 before rebounding in 2010."

Green economy could create thousands of new jobs in Alberta: report - "We're starting to realize that in the long run, a healthy environment is essential for a healthy economy and that the economy can be put to work to improve the health of the environment."

A move toward creating more environmentally sustainable energy sources could provide jobs for electricians, computer and electrical engineers, iron and steel workers, welders, construction workers and sheet metal workers, the report says."

Edmonton's 30 Year Vision

The vision of Edmonton as a thriving arts community, a clean environment, with big beautiful parks, a powerful economy and a unique look was compiled by over 2,200 citizens with a common goal in mind- Edmonton by 2040.

“We hope this vision will allow the flexibility, in those interim steps, to get to that point, but we should always want to get to that point,” “My assumption is that most (future) councils will want to make environment sustainable, most will want to have a good, multi-cultural community, they might have different steps in getting there, but they would still want to get there.” Mayor Stephen Mandel

Sounds like a beautiful place and I would love to live there in my, gulp, late-sixties.